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Crypto News

Robinhood Expands Crypto Trading Services to Europe

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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Robinhood, a well-known trading and brokerage firm, has significantly expanded its services by introducing its cryptocurrency trading platform to the European Union. This expansion, announced on December 7, allows all eligible EU customers to trade over 25 different cryptocurrencies.

This strategic entry into the European crypto market follows closely on the heels of Robinhood’s recent launch of its stock trading application in the United Kingdom. The firm’s foray into Europe aligns with its broader international expansion goals.

McIntosh emphasized the EU as an ideal market for Robinhood’s growth, particularly appreciating the EU’s effort in establishing the Market in Crypto-Assets Regulation (MiCA), the first comprehensive regime for crypto assets globally.

When queried about future plans in the EU, McIntosh reiterated Robinhood’s commitment to making finance more accessible. Launching a custodial crypto product in the EU marks a key step in this mission. However, he noted that the current focus is solely on rolling out Robinhood Crypto for EU customers, with no additional details.

One of the notable features of the new crypto app is its zero trading fee structure. Customers are also rewarded with a return in Bitcoin, representing a percentage of their monthly trading volume. The platform also emphasizes transparency, allowing users to see the spread directly in the app, including the rebate the company receives from sell and trade orders.

McIntosh explained that Robinhood’s crypto platform benefits from relationships with various crypto trading venues. These partnerships enable Robinhood to offer competitive prices, as the company receives variable volume rebates from these trading venues.

Robinhood’s move into the European market was first announced in November and represents a significant step in its global expansion strategy. This European launch comes after the firm ceased crypto trading services in the United States in June, a decision influenced by increasing regulatory pressures and legal challenges other crypto firms face.